It's Thursday, the twenty fourth of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know when just five minutes are Michael Thompson and good morning, Sean Aylmer.

It's Thursday, the twenty fourth of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know when just five minutes are Michael Thompson and good morning, Sean Aylmer.

Good morning, Michael.

Good morning, Michael.

Sean, five stories. Five minutes. And they are all five big stories today, so we better get cracking story number one. Donald Trump and his administration backing down on onerous tariffs against China, softened his language on the Federal Reserve chair and chief cost cutter Elon Musk is going to spend more time working at his struggling Tesla company and less time in the White House.

Sean, five stories. Five minutes. And they are all five big stories today, so we better get cracking story number one. Donald Trump and his administration backing down on onerous tariffs against China, softened his language on the Federal Reserve chair and chief cost cutter Elon Musk is going to spend more time working at his struggling Tesla company and less time in the White House.

All that news sent markets sharply higher over the past thirty six hours, with equities leading the way, followed by the US dollar and energy prices. The casualty was gold, considered a safe haven asset, which came off its record levels. Plenty in it, starting with President Trump saying he will substantially lower his unprecedented one hundred and forty five percent tariffs and Chinese goods and won't play hardball, his words effectively recognizing the damage that those tariffs are doing. Earlier, US Secretary Treasury Secretary Scott Bessant told investment bankers that negotiations with China would be a slog but neither side considered the status quo sustainable. Then Donald Trump back down from threats to sack j. Powell, the highly regarded head of the FED. Powell has said that Trump's tariffs were likely to lead to higher inflation and lower economic growth. Trump responded calling him a loser, but yesterday Trump said he had no intention of sacking Powell.

All that news sent markets sharply higher over the past thirty six hours, with equities leading the way, followed by the US dollar and energy prices. The casualty was gold, considered a safe haven asset, which came off its record levels. Plenty in it, starting with President Trump saying he will substantially lower his unprecedented one hundred and forty five percent tariffs and Chinese goods and won't play hardball, his words effectively recognizing the damage that those tariffs are doing. Earlier, US Secretary Treasury Secretary Scott Bessant told investment bankers that negotiations with China would be a slog but neither side considered the status quo sustainable. Then Donald Trump back down from threats to sack j. Powell, the highly regarded head of the FED. Powell has said that Trump's tariffs were likely to lead to higher inflation and lower economic growth. Trump responded calling him a loser, but yesterday Trump said he had no intention of sacking Powell.

I mentioned Elon Musk, He's going to dedicate more time to Tesla. After a very poor March quarter for the world's most valuable ev maker.

I mentioned Elon Musk, He's going to dedicate more time to Tesla. After a very poor March quarter for the world's most valuable ev maker.

He really needs to Quarterly income was down seventy one percent, much worse than analyst's forecast. Musk said he will devote far more of my time to Tesla beginning next month, adding that his stint leading the Department of Government Efficiency will be largely complete. Tesla's share price is down more than fifty per cent since late last year, although it jumped five percent yesterday on news that Musk will spend more time in the office.

He really needs to Quarterly income was down seventy one percent, much worse than analyst's forecast. Musk said he will devote far more of my time to Tesla beginning next month, adding that his stint leading the Department of Government Efficiency will be largely complete. Tesla's share price is down more than fifty per cent since late last year, although it jumped five percent yesterday on news that Musk will spend more time in the office.

Story number two sean Commonwealth Bank is gaining plenty of interest at the moment. While it was off two point two percent yesterday, it surched four percent on Tuesday, after the holiday weekend, to a new record high, while the other banks were just treading water.

Story number two sean Commonwealth Bank is gaining plenty of interest at the moment. While it was off two point two percent yesterday, it surched four percent on Tuesday, after the holiday weekend, to a new record high, while the other banks were just treading water.

So it's now worth two hundred and eighty billion dollars, not far off one hundred billion dollars larger than BHP, the number two company on the AIX. Even more incredible if you put the value of Westpac, National, Australia Bank and am Z all together. Yet three hundred billion dollars CBA at two eighty billion isn't far off the combined value of the other three. Why does it keep running well? Is considered the safest stock on the local market. That helps in a Trump world overseas, buyers, including from US are looking for places to put their money. Maybe that's it the bottom line though, Comwealth Bank is now the most expensive bank on the market by a long long way, and one of the most expensive in the world.

So it's now worth two hundred and eighty billion dollars, not far off one hundred billion dollars larger than BHP, the number two company on the AIX. Even more incredible if you put the value of Westpac, National, Australia Bank and am Z all together. Yet three hundred billion dollars CBA at two eighty billion isn't far off the combined value of the other three. Why does it keep running well? Is considered the safest stock on the local market. That helps in a Trump world overseas, buyers, including from US are looking for places to put their money. Maybe that's it the bottom line though, Comwealth Bank is now the most expensive bank on the market by a long long way, and one of the most expensive in the world.

Story Number three opposition that Depeter Dutton says he will fund a proposed twenty one billion dollar increase in defense spending through higher income taxes rather than spending cuts.

Story Number three opposition that Depeter Dutton says he will fund a proposed twenty one billion dollar increase in defense spending through higher income taxes rather than spending cuts.

Ten days out and Dunton was in Perth to unveil his big Defense policy, which would take spending in the area from two percent of GDP to two and a half to three percent in a decades time. When I asked how to play for it, he said he would repeal Labour's recently announced income tax cuts. Meanwhile, Shadow Treasurer Angus Taylor says the instant asset right off for small business will be permanent under a coalition government. Jim Chalmers has extended the rite off, but only for a year, and finally Michael. More than half a million Australians cast their vote on the first day of pre polling, a record number, up seventy percent from three years ago.

Ten days out and Dunton was in Perth to unveil his big Defense policy, which would take spending in the area from two percent of GDP to two and a half to three percent in a decades time. When I asked how to play for it, he said he would repeal Labour's recently announced income tax cuts. Meanwhile, Shadow Treasurer Angus Taylor says the instant asset right off for small business will be permanent under a coalition government. Jim Chalmers has extended the rite off, but only for a year, and finally Michael. More than half a million Australians cast their vote on the first day of pre polling, a record number, up seventy percent from three years ago.

How very keen during number four. The most unaffordable electorates to buy a home mostly in Sydney, while Regional Queensland provides the electorates with the most affordable.

How very keen during number four. The most unaffordable electorates to buy a home mostly in Sydney, while Regional Queensland provides the electorates with the most affordable.

Yes, so housing's key issue in this campaign. Core Logics crunched the numbers. It's come up with a fact that four of the top five until twelve of the top twenty most unaffordable electorates are in Sydney. Regional Queensland comprises six of the twenty most affordable electorates, followed by Melbourne which has four and three in regional New South Wales. It'd be really interesting to see if this affordability factor actually pushes through to voting intentions on Saturday Week.

Yes, so housing's key issue in this campaign. Core Logics crunched the numbers. It's come up with a fact that four of the top five until twelve of the top twenty most unaffordable electorates are in Sydney. Regional Queensland comprises six of the twenty most affordable electorates, followed by Melbourne which has four and three in regional New South Wales. It'd be really interesting to see if this affordability factor actually pushes through to voting intentions on Saturday Week.

Indeed, last one story number five the IMF, the International Monetary Fund, has cut its growth forecast for the Australian economy by half a percentage point in Sean, I don't need to tell you that is a big chunk, and it is blaming a global slowdown, of course, from Donald Trump's trade war.

Indeed, last one story number five the IMF, the International Monetary Fund, has cut its growth forecast for the Australian economy by half a percentage point in Sean, I don't need to tell you that is a big chunk, and it is blaming a global slowdown, of course, from Donald Trump's trade war.

The IMF warned of rising risks to financial stability thanks to the concentration of the global equity market in the US docks. Wall Street now accounts for about fifty five percent of the value of all sure share markets around the world. The IMF's World Economic Outlook Report forecast Australia's economy to grow at one point six percent this year, down from two point one percent that the Fund had forecast back in January. If that's the case, it would extend at the economy's weakest period of growth outside COVID since the early nineteen nineties recession.

The IMF warned of rising risks to financial stability thanks to the concentration of the global equity market in the US docks. Wall Street now accounts for about fifty five percent of the value of all sure share markets around the world. The IMF's World Economic Outlook Report forecast Australia's economy to grow at one point six percent this year, down from two point one percent that the Fund had forecast back in January. If that's the case, it would extend at the economy's weakest period of growth outside COVID since the early nineteen nineties recession.

All right, there we go. The top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Thursday, the twenty fourth of April twenty twenty five. Remember to hit follow on the podcast and if five minutes isn't enough, you're gonna find our longer daily show called Fear and Greed wherever you listen to podcasts, and head along to Fearangreed dot com dot a you and sign up for our free daily newsletter. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.

All right, there we go. The top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Thursday, the twenty fourth of April twenty twenty five. Remember to hit follow on the podcast and if five minutes isn't enough, you're gonna find our longer daily show called Fear and Greed wherever you listen to podcasts, and head along to Fearangreed dot com dot a you and sign up for our free daily newsletter. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.